Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

$222,028. $127,200. $240,686. $152,012. Present and future value tables of $1 at 3% are presented below: 1 1.03000 0.97087 1.00000.97087 1.0300 1.00000 2 |1.06090|0.94260 |

image text in transcribed

$222,028.

$127,200.

$240,686.

$152,012.

Present and future value tables of $1 at 3% are presented below: 1 1.03000 0.97087 1.00000.97087 1.0300 1.00000 2 |1.06090|0.94260 | 2.0300 | 1.91347 | 2.0909 | 1.97087 3 1.09273 0.91514 3.09092.8286 3.1836 2.91347 4 1.12551 0.88849 4.18363.71710 4.3091 3.82861 5 1.15927 0.86261 5.30914.579715.46844.71710 6 1.19405 0.83748 6.46845.41719 6.6625 5.57971 7 1.22987 0.813097.66256.230287.8923 6.41719 8 1.26677 0.78941 8.89237.01969 9.1591 7.23028 9 1.30477 0.76642 10.15917.78611 10.4639 8.01969 10 1.343920.74409 11.46398.53020 11.80788.78611 11 1.384230.72242 12.8078 9.25262 13.1920 9.53020 12 1.42576 0.70138 14.19209.95400 14.6178 10.25262 13 1.46853 0.68095 15.6178 10.63496 16.0863 10.95400 14 1.51259 0.66112 17.086311.29607 17.5989 11.63496 15 11.55797 10.64186 | 18.5989 |11.93794 | 19.1569 12.29607 16 1.604710.62317 20.1569 12.56110 20.7616 12.93794 Today, Thomas deposited $120,000 in a 2-year, 12% CD that compounds quarterly. what is the maturity value of the CD

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Leading The Internal Audit Function

Authors: Lynn Fountain

1st Edition

0367568004, 9780367568009

More Books

Students also viewed these Accounting questions